Koo Yun-cheol: "The seventh oil price cap will be lowered... the system will remain in place until prices stabilize"

[Financial News] Koo Yun-cheol, Deputy Prime Minister for Economic Affairs and Minister of Economy and Finance, said on the 26th that "the seventh oil price cap will be lowered from the current level, taking into account falling global oil prices, the burden on households, and fiscal conditions." He added, "We will keep the oil price cap system in place until consumer fuel prices stabilize."
At the meeting, held at Government Complex Seoul, Koo said he would "closely monitor the Middle East war and the state of the Korean economy, and gradually adjust the emergency response measures currently in place."
skjung@fnnews.com Jung Sang-gyun Reporter